Instant Access savings from just £1
the features
- Start saving from just £1 and earn 0.50% gross /AER (variable)
- The more you save, the more you earn. Get up to 2.50% gross /AER (variable) on balances greater than £750,000
- No penalties for withdrawals
- 24 hour access, 365 days a year
- Annual or monthly interest deposited directly into your savings account
- Pay money in and transfer funds to your bank account – even if you don’t bank with cahoot
- The maximum deposit is £2,000,000
- Tiered variable interest rates apply depending on the balance until 31st May 2011. See the summary box below for tiered rates.
Instant Access: Summary of Information
| Account name | cahoot savings account | ||||
|---|---|---|---|---|---|
| Interest rates (AERs) | Balance | Annual Interest | Monthly Interest | ||
| AER | Gross | AER | Gross | ||
| £1+ | 0.50% | 0.50% | 0.50% | 0.50% | |
| £50,000+ | 0.55% | 0.55% | 0.55% | 0.55% | |
| £100,000+ | 0.60% | 0.60% | 0.60% | 0.60% | |
| £250,000+ | 0.76% | 0.76% | 0.76% | 0.76% | |
| £500,000+ | 1.01% | 1.01% | 1.01% | 1.01% | |
| £750,000+ | 2.50% | 2.50% | 2.47% | 2.47% | |
| £1,000,000+ | 2.50% | 2.50% | 2.47% | 2.47% | |
| £2,000,000+ | 0.50% | 0.50% | 0.50% | 0.50% | |
| Tax status | Interest is paid net unless a customer registers that they are entitled to receive gross interest | ||||
| Conditions for bonus | Tiered variable interest rates are applicable until 31st May 2011. From 1st June 2011, you will receive the variable rate applicable to balances from £1 on all the money in your account. | ||||
| Withdrawal arrangements | No notice required | ||||
| Access | Web and telephone | ||||
| These rates are variable and correct as at 1st May 2010 - Gross /AER assumes that the deposit was made on 1st May 2010. |
| Annual or monthly interest can be chosen at account opening. Once chosen it cannot be altered at a later date. |
| Please note that the tier of interest above, that is applicable to the balance of your account, is applied to the total balance. |
| AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. |
